If you've been recording entries to each account as credit or debits, you'll send these entries to each account in the general ledger and adjust your account balances accordingly. Any record of unsold products goes into your inventory account. Think... Read more
This makes sharing the reconciliation results and collaborating on the template for further actions and decision-making a challenge. Streamline workflows with our pre-configured solutions for all your standard and specialized reconciliations. Our so... Read more
Without good reconciliation, it is difficult determining which expected payments haven’t been made. In addition to detecting fraud, cash book and bank reconciliation statements allow you to quickly identify any potential disruptions in your ca... Read more
Bank Reconciliation Statement is a valuable tool to identify differences between the balance as per Cash Book and bank statement. Bank reconciliation also helps in detecting some frauds and manipulations. It is a good practice to carry out this exer... Read more
A balance sheet helps you determine your business’ liquidity, leverage, and rates of return. When your current assets are greater than your liabilities, your business is likely in a good financial position and is able to cover your short-term... Read more
Get our FREE guide to nonprofit financial reports, featuring illustrations, annotations, and insights to help you better understand your organization's finances. Our non profit financial projection template provides up to 5 years of balance sheet, i... Read more
Use this monthly or quarterly small business balance sheet template to analyze and archive your business’s assets, liabilities, and equities over monthly, quarterly, and year-to-date timelines. The spreadsheet will automatically calculate shor... Read more
The full disclosure principle is a concept that requires a business to report all necessary information about their financial statements and other relevant information to any persons who are accustomed to reading this information. The amount of info... Read more
Here, Company A will carry no debt on its balance sheet (and thus have zero interest expense), whereas Company B will have $4m in interest expense. The payment of interest expense reduces the taxable income and the amount of taxes due – a demonstrat... Read more
Let’s take a look at how we would calculate Depreciation with each approach. In the section below, we cover two of the most common methods and their Cash Flow and Valuation impacts. Below, we take a look at an example of how a change in the De... Read more
